If a Person Has the Lowest Opportunity Cost of Producing

question 111

Multiple Choice

If a person has the lowest opportunity cost of producing a particular good,that person has a(n)

• A) comparative advantage.
• B) absolute advantage.
• C) comparative and absolute advantage.
• D) absolute advantage and a possible comparative advantage.
• E) relative advantage.

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Definitions:

Medicare

A federal health insurance program in the United States for people who are 65 or older, certain younger people with disabilities, and people with End-Stage Renal Disease.

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A government-sponsored program in the United States that provides healthcare services to low-income individuals and families.

Healthcare Services

Professional care services that aim to maintain or improve an individual's health.

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Payments made by someone other than the consumer or provider of a good or service, often used in healthcare and insurance industries.